TRENCOR LIMITED - Trencor's Textainer Refinances US$1,2 Billion Warehouse Financing Facility

Trencor's Textainer Refinances US$1,2 Billion Warehouse Financing Facility

TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")

TRENCOR'S TEXTAINER REFINANCES US$1,2 BILLION WAREHOUSE FINANCING FACILITY

We draw attention to the following news release issued by Textainer Group Holdings
Limited, in which Trencor has a 48,1% beneficiary interest:

"Hamilton, Bermuda - (Business Wire) - Sep. 16, 2014 - Textainer Group Holdings
Limited (NYSE: TGH) ("Textainer" or the "Company"), the world's largest lessor of
intermodal containers based on fleet size, today announced that Textainer Marine
Containers II Limited ("TMCL II"), an indirect, wholly-owned subsidiary of the
Company, entered into an amendment to extend its $1.2 billion warehouse securitization
facility incorporating a three-year revolving period and also lowering the interest rate on
the facility to 1.70% over LIBOR during the new revolving period. If the facility is not
refinanced or renewed following the three-year revolving period that ends in September
2017, the facility is structured to partially amortize over the following four years and then
mature. Previously the facility had a two-year revolving period and was priced at 1.95%
over LIBOR. The Company also lowered the facility’s unused fee and improved other
terms.

"We are pleased with the refinancing of this sizable securitization facility at very
favorable rates and improved terms. Textainer is the first container lessor to establish a 3-
year revolving period on a warehouse facility. This facility will provide us with continued
liquidity and flexibility, enabling us to competitively meet our customers' container
leasing needs," commented Hilliard C. Terry, III, Textainer Executive Vice President and
Chief Financial Officer. "We continue to implement strategies to reduce funding costs and
exercise leadership on the financing front. We will look for additional ways to benefit
from the low interest rate environment, while improving our competitive position."

The syndicate of participating banks include: ABN AMRO Capital USA LLC, Bank of
America, N.A., Credit Suisse AG, ING Bank Belgium NV/SA, KeyBank National
Association, Royal Bank of Canada, Santander Bank, N.A., SunTrust Bank and Wells
Fargo Bank, National Association. Wells Fargo Bank, N.A. served as the structuring
agent and arranger.

Textainer Group Holdings Limited
Hilliard C. Terry, III, +1 415-658-8214
Executive Vice President and Chief Financial Officer"

Trencor Services (Pty) Ltd
Secretaries
16 September 2014

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

www.trencor.net

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